Thos who are confused with their finance arrangement - This will give you complete idea about it.
infact Mitsubishi has to arrange all debt for both projects and they are even obliged for additional $400m finance to murchison. Now mitsubishi balance sheet can afford it. They are in communication with foreign export credit agencis. deferred payment will be done in 3rd or 4th quarter.
below past announcement will explain you the arrangement.
mmx Holder, if u manage to stay with mmx untill the end of this year u will see significant progress on both projects progress and you will know rest what it can do to SP :).
If Barnett has slightest doubt about their capacity of finishing project, he has not approved extension.
It was only delayed to involve his fav chinese in the project.
Re: Iron ore price, ppl have saying since past decade that boom will get over soon. but the iron ore price increasing day by day and more infra developer sleeping giant like India, Korean will have demand of ore to develop their infra.
For looking at the current development in iron ore price, It is highly like that u get better ore price after couple of years than today.
I am very patient long term holder and will hold mmx until it get past $4 once the project get delivered or in execution phase.
Do u have patient untill murchison deliver the project. u know it better!!!
Those chinese who consuming ore now u think they want murchison projects for nothing...ask yrself?
